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This article explains the structures and rules built into the New Zealand government’s financial management system which encourage entry into commitments such as public private partnerships. That the system provides a means of escape from the tight constraints imposed by fiscal targets, and escapes public and parliamentary scrutiny in the process, seems at odds with espoused objectives of fiscal responsibility, debt reduction and transparency. In terms of furthering a privatization agenda, however, it is highly logical.

The purpose of the paper is to identify the determinants of the probability of living beyond one’s means. The paper also explores the coping mechanisms of those financially distressed as well as the debt taking behaviour of consumers.

The study uses data obtained from the OECD International Network on Financial Education pilot study on Measuring Financial Literacy in 2010 for the case of Malaysia. A logistic regression model is used to identify the main determinants of the probability that a consumer will live beyond his/her means. The analysis is carried out by using a set of socio-economic factors and the individual’s financial behaviour and attitudinal characteristics as explanatory variables.

The findings indicate that low income and seasonal income earners are more vulnerable to financial distress. Furthermore, having a higher education, higher financial knowledge and prudent financial behaviour and attitude do not necessarily translate into better financial management. Family and friends provide the main source of financial assistance in times of need.

The assessment of financial knowledge should go beyond individual’s knowledge on financial concepts and theories. Practical knowledge on financial and cash flow management should be assessed.

The study reiterates the importance of financial education. It is imperative to include financial education as part of the schools’ curriculum and also to be incorporated as part of the Continuous Professional Development modules for working adults.

The study is based on the first nationwide study of consumer finances in Malaysia. It contributes to the literature by integrating financial behaviour and attitudinal factors into the analysis of the ability of individuals to live within their means. The findings also show the limitations of the existing self-assessment of financial behaviour and attitude and the assessment of financial knowledge.

This study aims to analyze the factors that influenced the stability of Islamic banks in Asia.

The panel data consisted of 16 Asian countries operating Islamic banks from 2010 to 2019. The data were analyzed through dynamic panel regression using Arellano–Bond generalized method of moments (GMM).

This study provides novel insights into the factors influencing the stability of Islamic banks in Asia. The findings suggest that past financial stability, liquidity risk, loan risk, inflation, gross domestic product, government effectiveness, rule of law and control of corruption are all significant contributors to Islamic bank stability. Notably, political stability, voice and accountability and regulatory quality did not show a significant association.

The current study’s focus was solely on Islamic bank stability in Asian countries, which leaves room for further exploration. Future research could benefit from expanding the scope to encompass all nations with active Islamic banking institutions. In addition, incorporating a broader range of macroeconomic variables, such as exchange rates, interest rates, profit-sharing equivalents and investment rates, could provide deeper insights into the factors influencing Islamic bank stability across diverse contexts.

This study has significant practical implications for policymakers, bank managers and regulatory authorities seeking to enhance the stability of Islamic banks in Asia. By implementing robust risk management frameworks, adopting prudent regulatory policies, and actively fostering economic growth, policymakers can create an environment conducive to the sustained development and prosperity of Islamic banking institutions. Notably, promoting good governance practices and instituting effective crisis prevention measures can further bolster the resilience of the Islamic banking sector, enabling it to play a more dynamic role in contributing to the overall development and welfare of Asian societies.

The findings of this study carry significant social implications, highlighting the need for governments in Asian countries to prioritize public policies that promote good governance and ethical practices within the banking industry. Such policies, coupled with efforts to attract foreign investments and foster a stable and transparent banking sector, have the potential to generate far-reaching positive effects on society. Through economic growth stimulated by a robust Islamic banking sector, Asian countries can create new employment opportunities, improve living standards and ultimately enhance the overall well-being of their citizens.

This study contributes to the ongoing discourse on Islamic banking stability by offering novel insights and expanding the empirical knowledge base in this field. The dual application of robust regression methodologies – namely, GMM dynamic panel data models – presents a unique analytical framework for investigating the complex interplay between diverse variables and Islamic bank stability. This methodological choice fosters deeper understanding of the dynamic relationships at play, advancing our understanding of how specific factors influence the sector's resilience and performance. In addition, the study uses rigorous empirical techniques and engages with the extant literature to provide fresh perspectives and nuanced interpretations of the findings, further solidifying its contribution to the field's originality and richness.

From 1995 to 2011, tribal gaming has grown from $5.5B to $27.2B in revenues (NIGC website, 2012). When so much money is changing hands, a lack of adequate policies heightens the possibility of financial mismanagement. In fact, gaming violations have grown during this time period. This paper explores the relationship between financial management policies and regulatory violations among American Indian Tribal gaming activities. Through empirical testing, we conclude that deductive models of proactive and reactive policies do not accurately predict the incidence of gaming violations and these policies are ineffective. The results raise normative questions about regulatory policy parity. These findings and related implications for future financial management regulations, policies and practices are tremendous, given the amount of money involved.

All industry has been facing tremendous pressure since the beginning of 2020 owing to COVID-19 crisis, including real estate construction. The research is a case study investigating challenges and action plans faced by stakeholders (developers/consultants/contractors) in real estate construction in some major cities in Indonesia. This study aims to identify and prioritize on action plans related to real estate construction stakeholders.

The study gathered challenges and action plans by distributing open questionnaire to expert to get insights in their own verbatim. Data reduction was then performed to get high-level challenges and high-level action plans. High-level action plans were then analyzed using proposed Eisenhower-simultaneous importance performance analysis (SIPA) matrix which help prioritize high-level action plans. Correlation matrix was also constructed to gain insight on relation between action plans to challenges and to three main LEAN elements (Muda, Mura and Muri). Alternative ranking method using “sum-product to 3M” approach was also performed to give complementary insights.

Ten action plans fall under category “Act now and become COVID-19 champion company.” One falls under category “prepare and invest now to gain competitive advantage,” one falls under category “external collaboration now to survive,” one falls under category “external collaboration for potential efficiency,” whereas the remaining six action plans fall under category “let-it-go” or “do-nothing.”

The study gathered only 48 and 64 respondents in its first and second questionnaires. Despite small number, the respondents are experts in their own field, and their valuable insights and responses off-set the limited number of participants. The study gives insightful action plans that can be taken by stakeholders in real-estate construction in Indonesia’s major cities analyzed by proposed Eisenhower-SIPA matrix.

The novelty of the research lies in the insights from industry experts in dealing with current COVID-19 pandemic in real-estate construction in Indonesia. Added value is also given through the use of Eisenhower-SIPA matrix.

The Islamic Capital Market (ICM) has witnessed tremendous growth over the years. One of the most interesting growth curves in the ICM instruments is that Islamic Real Estate Investment Trusts (I-REITs). The purpose in this paper is to highlight the concept of I-REIT and to presents a comparative analysis for Emirates I-REIT and Al-Salam I-REIT of UAE and Malaysia to find out the implications of the major differences between the two countries I-REITs.

This paper uses the data in the two I-REITs' financial reports from the years 2015 to 2019. A descriptive (Observational design) data analysis approach is used in comparing both I-REITs by focusing on five different variables that include: portfolio, governance, financial performance, Shariah compliance and risk management.

The findings offer evidence of key differences between the two countries regarding the I-REITs. The differences found in the implication for all variables that the paper presented, especially the size of the portfolio for each I-REIT along with the Shariah compliance and risk management, Al Salam “Malaysia” used more standard approach than UAE in which the SSB is responsible for setting the guidelines for Emirates REIT. Also, the risk management technique used by the two REITs differs from one another.

This research paper provides an insight for the capital market sectors as an initiative to improve and develop the ICM to play its important role in the economy.

This research paper is an initiative to compare and evaluate the implications of major differences between the I-REITs of the two countries only in the light of recent development in the ICM.

Economic development requires the use of natural resources. Increasing population makes increasing demand on such resources thereby leading to the degradation of the environment. Excessive use of resources can lead to a situation where declining supply can no longer satisfy the demand. Hence, without conservation and prudent management of resources the environment cannot be preserved. This paper examines the case of water supply, which is the fundamental requirement for the sustenance of all life forms on earth. The human population is expected to double to at least 8 billion in the next 30 years and the worldwide demand for water is estimated to increase by a staggering 650 percent. However, the total supply of fresh water in the world is limited as 99 percent of the earth’s water is either saline or frozen. Of the remaining 1 percent most is ground water and soil moisture. The net availability of fresh water for human consumption is one‐hundredth of 1 percent. And not even all of that can be used. Hence, how can the continued availability of fresh water resources to satisfy the growing need of the rising population be satisfied? Conservation of fresh water can be achieved to some extent by reducing the demand by imposing a price/or raising the prevailing price on the use of water. However, while conservation can stretch the supply by reducing demand, for ensuring the long‐run adequacy of supply, it is necessary to apply a prudent environmental management policy which will prevent the destruction of forests and natural resources and apply a policy of active regeneration of forests. While the supplies of water make the forests survive and grow, preservation of forests allows water resources to survive. Forests cannot be preserved unless the destruction of hundreds and thousands of wetlands to make way for human settlement and industrial development is prevented and property rights of landless people are recognised. Thus for a prudent and efficient management of water resources to be effective, the state must adopt the ecologically sustainable approach to development. This paper examines these issues.

The lessons and merits of changes in the recognition and disclosure of derivative instruments and hedging activities are still debated and are a major policy issue. Prior studies provide mixed evidences on the economic consequences of mandatory derivative instruments ' recognition and disclosure. This paper aims to provide empirical evidence on the impact of mandatory derivative instruments ' recognition and disclosure on managers’ risk-management behavior. More importantly, this paper aims to investigate the role of product market competition on the impact of mandatory derivative instruments ' recognition and disclosure on managers’ risk-management behavior.

This paper tests the author ' s hypotheses using the fixed-effects estimation technique, where it includes firm dummies in all the regressions. This approach enables to control for unobserved firm effects (fixed effects) on firms’ risk-management behavior that are assumed to be constant through time but vary across firms.

The author finds that mandatory recognition and disclosure of derivative instruments and hedging activities, on average, decreases firms’ market rate risk exposure. This finding suggests that after the implementation of the recognition and disclosure of derivative instruments and hedging activities required by Statement of Financial Accounting Standards No. 133 (SFAS 133), firms engage in more prudent risk-management activities to mitigate the potential cost of earnings volatility imposed by the standard. However, the decrease in market rate risk exposure is lower when the level of product market competition is higher. This finding is consistent with the idea that the recognition and disclosure of derivative instruments and hedging activities required by SFAS 133 unintentionally forces firms in competitive industries to engage in significant risk-taking. The result suggests that more disclosure in risk management may change risk-management incentives in undesirable ways if firms face the threat of entry in their product markets.

The results provide a new understanding on the role of product market competition on the effectiveness of mandatory derivative instruments ' recognition and disclosure. The findings imply that standard setters should take product market competition into consideration before making derivative instruments and hedging activities ' recognition and disclosure mandatory for all firms.

The paper contributes to the accounting literature by providing a new insight into the moderating role of product market competition in the accounting recognition and disclosure regulation and firms’ reporting behavior relation. Moreover, the paper extends the current literature on the effects of SFAS 133 on risk-management activities and sheds light on the impact of accounting regulations on firms’ real economic behavior.

The recent financial crisis provides an opportunity to examine the management of local government investment pools (LGIPs). This study examines asset concentration of current LGIPs to find if investment practices of LGIPs are consistent with the objective of prudent management of public funds. Using cross-sectional data of 72 LGIP portfolios, exploratory factor analysis was conducted. Findings suggest that there are five underlying factors that describe the investment practices of current LGIP portfolios. The findings also suggest that LGIP investment managers considered return on investment when they chose investment instruments. However, LGIP managers put more focus on the safety of investment when they allocated assets in their portfolio.

A viable framework has been proven to reduce operational and institutional inefficiencies in the urban water supply sector. The absence of drivers necessary to develop a framework may have hindered institutional development and effective Ghanaian urban water supply management. Thus, the research aims to identify the drivers and develop a framework for effectively managing the urban water supply in Ghana.

The study utilised a qualitative research design approach and analysed collected data to proffer answers to the research questions. The research sampled 19 participants, and saturation was achieved.

Findings identified drivers for developing Ghana's urban water supply framework. They categorised them into the availability of water supply resources, the level of professionalism of the personnel, the provision of accessible quality water, the efficient management system of water supply, prudent financial management, ethics for managing water supply and the culture of managing water supply. These pertinent constructs form components of Ghana's urban water sector framework.

Besides supporting transformation and sustainability to develop a framework for managing Ghana's urban water supply sector, policymakers may utilise the developed model to evaluate public urban water supply compliance with Ghana's water sector performance.